Top 10 mistakes made by Jack Ma
Updated: 2014-09-24 07:02
(chinadaily.com.cn)
NO 7 Yahoo China
It took only three months for Alibaba to acquire Yahoo China after negotiations began. By signing the deal, Alibaba received $1 billion investment from Yahoo while 39 percent of its stock rights were given to Yahoo! Inc.
Later developments showed that Yahoo China made little contribution to the entire group's expansion, and Alibaba lost crucial period to develop its middle- and small-sized companies' search engine strategy.
Even worse, a report released during Alibaba's IPO in Hong Kong in 2007 revealed that from 2010 onwards Yahoo planned to increase its power at the board and did not rule out removing Ma from the board.
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 Jack Ma (L), CEO of Alibaba, celebrates with Daniel Rosensweig (R), COO of Yahoo, for their cooperation on August 11, 2005. [Cui Hao/Asianewsphoto]
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| To US consumers, China's Alibaba is a non-entity |